10-4: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
10-4
Largest movements
- Current investments +€166,870
up €166,870 (+89.7%), from €186,020 to €352,890
- Cash -€106,811
down €106,811 (-48.5%), from €220,143 to €113,332
mainly Contributions, distributions and other (-€281,238) and Current investments (-€166,870)
- Receivables after one year -€100,000
down €100,000 (-100.0%), from €100,000 to €0
- Receivables within one year +€30,719
up €30,719 (+85.8%), from €35,805 to €66,524
of which Other amounts receivable: +€55,271
- Tangible fixed assets -€26,875
down €26,875 (-9.4%), from €286,432 to €259,556
of which Furniture and vehicles: -€16,542
- Other debts +€264,378
up €264,378 (+1401.8%), from €18,859 to €283,238
- Reserves -€246,277
down €246,277 (-37.7%), from €652,464 to €406,187
- Debts after one year -€49,707
down €49,707 (-66.2%), from €75,142 to €25,435
- Tax, wage and social debts -€10,553
down €10,553 (-39.2%), from €26,951 to €16,399
- Gross operating margin -€176,255
down €176,255 (-73.9%), from €238,468 to €62,214
- Taxes -€49,937
down €49,937 (-79.0%), from €63,188 to €13,252
- Financial income +€13,848
up €13,848 (+175.7%), from €7,884 to €21,732
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €829,446 | €792,303 | -€37,143 | -4.5% |
| Fixed assets | 21/28 | €286,432 | €259,556 | -€26,875 | -9.4% |
| Tangible fixed assets | 22/27 | €286,432 | €259,556 | -€26,875 | -9.4% |
| Land and buildings | 22 | €245,661 | €234,259 | -€11,401 | -4.6% |
| Plant, machinery and equipment | 23 | - | €1,068 | +€1,068 | |
| Furniture and vehicles | 24 | €40,771 | €24,229 | -€16,542 | -40.6% |
| Current assets | 29/58 | €543,015 | €532,747 | -€10,268 | -1.9% |
| Amounts receivable after more than one year | 29 | €100,000 | €0 | -€100,000 | -100.0% |
| Other amounts receivable | 291 | €100,000 | €0 | -€100,000 | -100.0% |
| Amounts receivable within one year | 40/41 | €35,805 | €66,524 | +€30,719 | +85.8% |
| Trade receivables | 40 | €35,805 | €11,253 | -€24,552 | -68.6% |
| Other amounts receivable | 41 | €0 | €55,271 | +€55,271 | |
| Current investments | 50/53 | €186,020 | €352,890 | +€166,870 | +89.7% |
| Cash at bank and in hand | 54/58 | €220,143 | €113,332 | -€106,811 | -48.5% |
| Deferred charges and accrued income | 490/1 | €1,047 | €0 | -€1,047 | -100.0% |
| Total equity and liabilities | 10/49 | €829,446 | €792,303 | -€37,143 | -4.5% |
| Equity | 10/15 | €658,664 | €412,387 | -€246,277 | -37.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €652,464 | €406,187 | -€246,277 | -37.7% |
| Distributable reserves | 133 | €652,464 | €406,187 | -€246,277 | -37.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €170,782 | €379,916 | +€209,134 | +122.5% |
| Amounts payable after more than one year | 17 | €75,142 | €25,435 | -€49,707 | -66.2% |
| Financial debts | 170/4 | €75,142 | €25,435 | -€49,707 | -66.2% |
| Amounts payable within one year | 42/48 | €95,640 | €354,481 | +€258,841 | +270.6% |
| Current portion of amounts payable after more than one year | 42 | €48,203 | €49,707 | +€1,504 | +3.1% |
| Trade debts | 44 | €1,626 | €5,138 | +€3,512 | +216.0% |
| Suppliers | 440/4 | €1,626 | €5,138 | +€3,512 | +216.0% |
| Taxes, remuneration and social security | 45 | €26,951 | €16,399 | -€10,553 | -39.2% |
| Taxes | 450/3 | €26,951 | €16,399 | -€10,553 | -39.2% |
| Other amounts payable | 47/48 | €18,859 | €283,238 | +€264,378 | +1401.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,943 | €27,957 | +€14 | 0.0% |
| Other operating charges | 640/8 | €1,243 | €1,407 | +€164 | +13.2% |
| Non-recurring operating charges | 66A | €1,838 | €0 | -€1,838 | -100.0% |
| Gross operating margin | 9900 | €238,468 | €62,214 | -€176,255 | -73.9% |
| Operating profit (loss) | 9901 | €207,444 | €32,850 | -€174,594 | -84.2% |
| Financial income | 75/76B | €7,884 | €21,732 | +€13,848 | +175.7% |
| Recurring financial income | 75 | €7,884 | €21,732 | +€13,848 | +175.7% |
| Financial charges | 65/66B | €6,800 | €6,369 | -€431 | -6.3% |
| Recurring financial charges | 65 | €6,800 | €6,369 | -€431 | -6.3% |
| Profit (loss) for the period before taxes | 9903 | €208,527 | €48,212 | -€160,315 | -76.9% |
| Income taxes | 67/77 | €63,188 | €13,252 | -€49,937 | -79.0% |
| Profit (loss) for the period | 9904 | €145,339 | €34,961 | -€110,378 | -75.9% |
| Profit (loss) for the period to be appropriated | 9905 | €145,339 | €34,961 | -€110,378 | -75.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.